šØ DID YOU LOSE CONFIDENCE IN BINANCE AFTER THE THEFT? HEREāS WHAT JUST HAPPENED
After the recent security incident, Binance published a new update, and there are several details worth looking at closely.
š approximately 98% of the affected assets have already been replenished.
š Binance says it is covering the losses with its own funds, without passing them on to users.
š the latest Proof of Reserves snapshot expanded its coverage from 10 to 44 tokens.
š additionally, once the zero-knowledge proof is complete, users will be able to independently verify that their balances are backed.
And hereās the point I think matters most š
When it comes to security, itās not enough to say āweāre trustworthy.ā
Trust is also built when a problem occurs, itās reported publicly, the cost is absorbed, and concrete progress in recovery is demonstrated.
Binance also announced that it is still acquiring the remaining 2% of the assets, which have lower liquidity, while continuing to reopen withdrawals in stages and strengthen its security measures.
Thereās still work to be done.
But in the face of a situation that worried many users, seeing concrete figures, funds replenished, and greater transparency is a positive sign.
In crypto, trust shouldnāt depend on promises.
It should be verifiable. š”ļø
$BTC $BNB $USDC
After the recent security incident, Binance published a new update, and there are several details worth looking at closely.
š approximately 98% of the affected assets have already been replenished.
š Binance says it is covering the losses with its own funds, without passing them on to users.
š the latest Proof of Reserves snapshot expanded its coverage from 10 to 44 tokens.
š additionally, once the zero-knowledge proof is complete, users will be able to independently verify that their balances are backed.
And hereās the point I think matters most š
When it comes to security, itās not enough to say āweāre trustworthy.ā
Trust is also built when a problem occurs, itās reported publicly, the cost is absorbed, and concrete progress in recovery is demonstrated.
Binance also announced that it is still acquiring the remaining 2% of the assets, which have lower liquidity, while continuing to reopen withdrawals in stages and strengthen its security measures.
Thereās still work to be done.
But in the face of a situation that worried many users, seeing concrete figures, funds replenished, and greater transparency is a positive sign.
In crypto, trust shouldnāt depend on promises.
It should be verifiable. š”ļø
$BTC $BNB $USDC
